Manulife Financial (TSE:MFC) Price Target Raised to C$47.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price raised by CIBC from C$46.00 to C$47.00 in a report issued on Thursday morning,BayStreet.CA reports.

MFC has been the subject of several other research reports. National Bankshares upped their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a research report on Thursday, November 7th. TD Securities increased their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cormark boosted their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research report on Thursday, November 21st. Barclays raised their target price on Manulife Financial from C$40.00 to C$47.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group boosted their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$44.55.

Manulife Financial Stock Up 0.8 %

Shares of Manulife Financial stock opened at C$44.15 on Thursday. Manulife Financial has a twelve month low of C$28.95 and a twelve month high of C$46.42. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60. The company’s 50 day moving average is C$44.25 and its 200 day moving average is C$40.76. The company has a market cap of C$78.15 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported C$1.00 earnings per share for the quarter, beating the consensus estimate of C$0.95 by C$0.05. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. During the same quarter in the previous year, the business posted $0.92 EPS. Research analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 3.62%. Manulife Financial’s dividend payout ratio is presently 68.09%.

Insiders Place Their Bets

In other Manulife Financial news, Director Kenneth Michael Ross sold 4,243 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of C$45.80, for a total transaction of C$194,315.82. Also, Director Brooks Tingle sold 3,866 shares of Manulife Financial stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$46.07, for a total value of C$178,102.75. Insiders sold 77,771 shares of company stock worth $3,508,584 in the last three months. 0.03% of the stock is owned by company insiders.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.